Editorial CACEIS News No. 61 - July 2020

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The COVID-19 pandemic has triggered an extraordinary set of events impacting health, the economy, and the financial sector. These unprecedented events saw national governments implement proactive measures designed to limit the extent and duration of potential impacts, and because of this we are already seeing signs of an economic recovery, together with encouraging financial indicators.

Joe SalibaFinancial authorities and banks, have played an essential role in stabilising and bolstering economies. CACEIS, as a major European asset servicing bank played a part in this too, adapting business processes to ensure clients’ activities continued to operate smoothly during the crisis.

Our strategic decisions have enabled us to maintain activity levels across the board and ensure processes remain efficient. Our large-scale migrations proceeded as planned, launch dates for digital solutions were advanced, and sales and relationship management activities worldwide continued as various new client mandates were onboarded. An example of this business continuity is our Private Equity, Real Estate & Securitisation team that supported the launch of over 70 private asset funds domiciled in Europe between March and May this year.

The last few months have again validated our group’s strategic decision to keep staff and operational activities within Europe. This confirms the effectiveness of our model, which is built on client proximity, in whichever markets they operate. Satisfaction surveys reveal that we are meeting clients’ expectations and that our strategy is effective. The lessons learned from each crisis enable us to better respond to the challenges of the future. Clearly, the digital side of our business is growing in importance but the human element remains fundamental.

CACEIS’ international development plans continue apace. In the Netherlands, the first wave of KAS Bank client migrations have been executed successfully. Those clients now have local access to the CACEIS group’s full service range. The new entity in Amsterdam will obtain branch status as of 1st October pending authorisation from the local regulator, and will act as CACEIS' Pension funds ‘Center of Excellence’ for all of Europe.

The integration of local teams in Spain and Latin America is on track and our new clients there now have access the group’s service offering.

Even with all these exciting development projects, the main focus of our energies will remain being a strong partner for our clients.

I wish you a relaxing summer break.